THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics

PETER SCHIFF

Wednesday, January 25, 2012

Peter Schiff : Zero Percent Interest Rate is killing us

Peter Schiff : it is like we are actually in intensive care and what the FED is doing is simply guaranteeing that the disease that afflicting is going to kill us , the zero percent interest rate prevents the only thing that might cure us , we need higher interest rates we need to allow the economy to restructure and re-balance we need more savings we need lower real estate prices we need to have a solvent financial system we need to balance the books we need less government spending we need to get rid of these trade deficits we need some surpluses we need some production none of this is going to happen with Zero Percent Interest Rate , all we are going to get is more speculation more debt more consumption more air in the bubble which means a lot more air comes out when it bursts ...If you think Europe is going through problems right now you ain't seen nothing , Europe is the warm up America is the main event , we are the real sovereign debt crisis currency crisis

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.